All industries affect a country's GDP to varying extents. When it comes to the booming gambling industry, Swedish casinos have contributed billions to the treasury – money that goes to Swedish welfare, charity, infrastructure and socio-economic development in general. The greatest casinos at spelaonlinebingo.net.
Here we explain how the income from online casinos in Sweden is used to strengthen the country's growth.
Increased casino tax revenue and higher profit tax
More and more gambling companies are applying for Swedish gambling licenses despite the strict rules that have been introduced in the Swedish gambling market. Swedish casinos must pay 18% in tax, which has resulted in the casino industry paying several billion kroner in tax!
But it is not only the casino that pays taxes to the state. Swedish players who opt out of casinos with a Swedish (or EU) license must now also pay profit tax. Of course, it is about significantly less tax revenue, but it is still revenue that previously did not exist when gambling in the casino (regardless of license) was completely tax-free.
Collateral tax revenue
The Swedish gambling law is very strict and violations are severely punished with fines or suspension. Swedish casino rules include, among other things, restrictions on welcome bonuses, tournaments and loyalty programs. Everyone competes for the title of the best Swedish casino, but gambling companies that, for example, offer bonuses worth more than 100 kroner commit crimes against the gambling law.
If you look at the Gambling Inspectorate's list of gambling companies that have received a Swedish license since 2019, you can see which gambling companies have been fined after breaking the rules. It is about hundreds of thousands of kroner that the sanctioned company must pay in order to avoid losing its license. It is usually cheaper to pay the fine than to apply for a Swedish gaming license again.
More jobs in profitable sectors
Increased employment is an important economic effect of having a thriving casino industry. There have never been as many job opportunities for casino employees as there are now. Gaming companies hire in a variety of sectors – from programmers to customer service staff, administrative staff, casino tourism staff and game hosts (croupiers, dealers, etc.). Apart from contributing to a strengthened labor market, even more money flows in in the form of income tax from employees in the casino sector.
As the casino market grows, so does the demand for games. This has led to the gaming companies starting to invest more and more in the development of digital entertainment for their own platforms. Sweden has long been a leader in game production with well-known companies such as NetEnt and Yggdrasil at the forefront. If you look at which game providers are represented at some of the world's largest online casinos, the majority have their base in Stockholm. For those interested in a career in game development, this is definitely a promising industry.
Millions go to charity
It is not only the state that earmarks money for charity and public purposes. The majority of gambling companies send huge contributions to associations and educational projects every year. The really big companies have chosen to sponsor entire sports federations and tournaments at the elite level. Millions go annually to sports scholarships and other sectors of the Swedish sports movement.
The fact that the gambling companies step in and support various charity programs also means that the pressure on the state treasury is reduced. Less spending in one sector allows money to go to other, less prioritized areas – another example of the economic effects of casino gaming benefiting the state.
Professional players and casino winners
Games are culture in Sweden and it is estimated that one in four Swedes spends time in the digital gaming world. Most people play for fun but there is also a minority who play to make money. Gambling is always wrong if you do it to improve your finances or pay off debts. The risk of losing is extremely high and the chance of winning back the lost money extremely small.
For those who want to make a career in the casino, however, the landscape looks different. The growing casino industry has caused more and more players to start thinking about gambling as a sport where you can earn big money if you are really good.
The slots have become wildly popular among Swedes who previously played computer games. Swedish game manufacturers develop slot machines that, with their sharp graphics and complex game mechanics, are at least as satisfying as the online computer games. The difference is that here you can win money in the game without having to sign up for a tournament! The limited group of professional players who have established themselves in the Swedish gaming market not only contribute with income tax but also to support their own families.
Summary
You can think what you want about gambling in general, but the fact is that astronomical sums flow into the treasury every year from the activities of online casinos. The money goes to everything from education to social programs, sports and non-profit activities. Stricter rules on the Swedish market have also created a safer gaming environment, something that we players are grateful for!